Ausbil Investment Management Ltd Acquires New Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Ausbil Investment Management Ltd acquired a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,621 shares of the industrial products company’s stock, valued at approximately $631,000.

A number of other large investors have also added to or reduced their stakes in the business. AJOVista LLC acquired a new stake in shares of Powell Industries during the 4th quarter worth approximately $29,000. Covestor Ltd grew its position in shares of Powell Industries by 121.1% during the 3rd quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock worth $66,000 after buying an additional 436 shares during the period. Invst LLC acquired a new stake in shares of Powell Industries during the 4th quarter worth approximately $161,000. Private Trust Co. NA acquired a new stake in shares of Powell Industries during the 4th quarter worth approximately $192,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Powell Industries during the 4th quarter worth approximately $206,000. Institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th.

Powell Industries Price Performance

Shares of NASDAQ POWL traded up $2.71 during mid-day trading on Friday, reaching $144.80. 32,167 shares of the company’s stock were exchanged, compared to its average volume of 334,473. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.15 and a beta of 0.92. Powell Industries, Inc. has a 52 week low of $57.78 and a 52 week high of $209.14. The firm has a 50-day moving average price of $164.90 and a two-hundred day moving average price of $136.97.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The company had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $201.45 million. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 48.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Powell Industries, Inc. will post 9.04 EPS for the current fiscal year.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th were paid a $0.265 dividend. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, May 14th. Powell Industries’s payout ratio is currently 12.59%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 20,000 shares of Powell Industries stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the completion of the transaction, the insider now owns 1,668,628 shares of the company’s stock, valued at approximately $343,520,446.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael William Metcalf sold 5,800 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $157.52, for a total transaction of $913,616.00. Following the completion of the transaction, the executive vice president now owns 37,400 shares of the company’s stock, valued at $5,891,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $205.87, for a total value of $4,117,400.00. Following the completion of the sale, the insider now directly owns 1,668,628 shares of the company’s stock, valued at approximately $343,520,446.36. The disclosure for this sale can be found here. Insiders sold 31,900 shares of company stock valued at $6,080,681 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.